Economic analysts caution that while Rwanda's top ranking in recent reports is commendable, it should not lead to complacency. Instead, it should spur further efforts to strengthen the country's economic policies and practices.
The latest 'Country
Policy and Institutional Assessment' (CPIA) report by the World Bank places
Rwanda first among African countries in terms of effective economic policies.
The CPIA Africa report, covering activities from January to December 2023,
awarded Rwanda a score of 4.1 out of 6, the same as in 2022.
The CPIA assesses four
key areas: economic management, policies for social inclusion and equity,
structural policies, and policies for public sector management and
institutions. Rwanda scored over 4 in all areas, with the highest scores in
promoting gender equality (4.4) and favorable business and investment policies
(4.2).
World Bank President Ajay Banga noted that Africa's economic outlook is promising, especially with its large youth population, as he mentioned during a recent meeting in Washington, D.C. However, the economic analysts emphasized the need for continuous improvement.
The report
also highlighted that while Rwanda leads, many other African nations,
particularly those south of the Sahara, average lower scores, underscoring the
need for ongoing development efforts.
Reforms in climate change
initiatives boosted Rwanda's score
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